Crestview Country Club Association

“Form 990, part iii, line 3 the organization entered into an agreement to sell the entity to concert crestview, llc, a for profit-entity. Disposition of assets occurred on 6/30/2016. However, state proceedings of dissolution were not finalized until 3/31/2017, which requires a final, short year form 990 for the tax year ended 3/31/2017.”

“Form 990, part vi, line 6 the organization had 558 members at year end. The membership of the association consists of six classes of members with voting rights as follows: *regular - 1 vote; *company - 1 vote to be exercised by primary designee; *associate - 1 vote; *junior executive - 1/2 vote; *relative - 1/2 vote; *social - no voting rights.”

“Form 990, part vi, line 7a the directors of the organization are elected by a majority vote of the eligible voting members at the annual meeting.”

“Form 990, part vi, line 7b bylaw changes, dues increases, assessments, and capital projects over $500,000 must be voted on by the eligible voting members.”

“Form 990, part vi, line 11b members of the board of directors are provided a copy of form 990 at a board meeting prior to filing with the irs.”

“Form 990, part vi, line 12c per the organizations bylaws, whenever a director or officer has a financial or personal interest in any matter coming before the board of directors, the affected person shall (a) fully disclose the nature of the interest and (b) withdraw from discussion, lobbying, and voting on the matter. Any transaction or vote involving a potential conflict of interest shall be approved only when a majority of disinterested directors determine that it is in the best interest of the association to do so. The minutes of meetings at which such votes are taken shall record such disclosure, abstention, and rationale for approval.”

“Form 990, part vi, lines 15a & 15b the general manager's compensation is reviewed and approved by the president of the organization. Key employee compensation is reviewed and approved by the general manager.”

“Form 990, part vi, line 19 at this time the organization does not make its governing documents or financial statements available to the public.”

“Form 990, part xi, line 9 sale of entity effective 6/30/2016 ($2,373,043)”